French Bank Issues €100M in Digital Tokens

French multinational investment bank and financial services company, Société Générale S.A., has sold €100 million ($112 million) of covered bonds in the form of digital tokens, Bloomberg reports.

Thus, the bank wanted to cut costs and speed settlement for the securities.

While traditional finance firms have been reluctant to embrace the futuristic currency, evangelists expect the use of security tokens, virtual representations of assets like real estate and stocks, to boom, highlights the media.

One way or the other, according to Bloomberg, many crypto-related companies still face a lot of problems when they try to open bank accounts.

For example, Sonny Singh, Chief Commercial Officer of the crypto payment processor BitPay, said that his company had been rejected by a large number of banks simply because it was related to crypto.

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